AURORA, ON, March 10 /PRNewswire-FirstCall/ - Helix BioPharma Corp.
(TSX, FSE: "HBP") today reported its highlights and financial results for
the three and six months ended January 31, 2008.
The Company's highlights for the quarter included:
- The signing of an agreement with KBI BioPharma for the development of
a clinical packaging format for L-DOS47, Helix's therapeutic
candidate for lung adenocarcinoma;
- The strengthening of the Company's cash position with the completion
of a CDN$16.9 million private placement of common shares on
December 19, 2007; and
- A shareholder vote in favor of management at the annual general
meeting on January 29, 2008.
"We have a solid base on which we can continue the advancement of our
lead clinical compounds," said John Docherty, President of Helix BioPharma.
"Recent developments include our receipt of positive Phase II data for our
Topical Interferon Alpha-2b, the preparation of a format of L-DOS47 that is
suitable for clinical testing, and the strengthening of our balance sheet.
We are currently developing plans for Topical Interferon in an expanded
patient population and we are anticipating L-DOS47 entering the clinic in a
Phase I study."
RESULTS FROM OPERATIONS
Three and six months ended January 31, 2008, compared to same periods in
Total revenue was negatively impacted by lower sales of Orthovisc(R) in
Canada for both the three and six month periods ended January 31, 2008.
Overall expenditures were lower in the second quarter ended January 31,
2008 and is mainly attributable to higher costs in the same period a year
ago, associated with the Company's annual shareholder meeting. On a
year-to-date basis, overall expenditures were marginally lower, with the
one-time charge in the first quarter of fiscal 2008 related to the
resignation of the Company's Chairman bei
|SOURCE Helix BioPharma Corp.|
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